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1. A consumer has an utility function given by U(x1, x2) = ? log(x1) + (1...

1. A consumer has an utility function given by U(x1, x2) = ? log(x1) + (1 ? ?) log(x2), with0<?<1. HerincomeisgivenbyM,andthepricesshefacesarep1 andp2, respectively. What is the optimal choice of x1 and x2? Follow the steps outlined in the math refresher notes. How does this result compare to the one in the notes? Explain.

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